Insurance

What is a Term?

Term

[turm]

noun

1.

The Term is the length of time a specific insurance Policy is effective. This feature is most commonly found in life insurance, where the Policy is only good for a specific length of time, or “term” of a person’s life.

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

How Liability Coverage Protects Your Business

How Liability Coverage Protects Your Business

Protect your business by understanding the importance of liability insurance and how coverage works.

The Richest Man in Babylon

The Richest Man in Babylon

In good times and bad, consistently saving a percentage of your income is a sound financial practice.

Assess Life Insurance Needs

Assess Life Insurance Needs

How to help determine life insurance needs to provide for your family after you pass away.